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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their older ships as possible, freight rates are expected to remain at break-even lows or even worse. This has become particularly evident in the dry bulk shipping market, where the industry’s benchmark, the Baltic Dry Index has dropped yesterday to just 753 points, down 3.95% on the day and more than 60% since late last year.
Meanwhile, in the demolition market, as Golden Destiny mentions in its latest weekly report, “Bangladesh scrapping ban has been finally lifted, but the government has imposed a new 5% tax on purchasing vessels for scrap that is going to influence scrap buyers appetite on stronger purchases. The Bangladesh Shipbreaking Association is pushing for a reduction in the rate, down to 0.5% that could lead scrap prices to fall by as much as $25/ldt. Scrap prices for dry and wet cargo are close to $500/ldt, but the current freight market environment offers a strong incentive for shipowners to move with overaged vessel disposals and ease the pain of oversupply. India offers the best levels with Bangladesh to follow, $460-$470/ldt for dry and $480-$490/ldt for wet cargo.
The week ended with 17 vessels reported to have been headed to the scrap yards of total deadweight 1,009,630 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 23% week-on-week decline, due to 30% lower volume of demolition transactions in the bulk carrier segment, whereas there has been a 28% increase regarding the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment by India for M/T “BOW PROSPER” with 12,200/ldt at $525/ldt. India has attracted 41% of the total demolition activity with China to follow by winning 5 disposals. At a similar week in 2011, demolition activity was up by 18% from the current levels, in terms of the reported number of transactions, 20 vessels had been reported for scrap of total deadweight 669,529 tons with bulk carriers and tankers grasping 60% of the total number of vessels sent for disposal. India and Pakistan had been offering $465-$475/ldt for dry and $500-$505/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
In a separate report, Clarkson Hellas said that the demolition market has remained very active, with many vessels being circulated and subsequently, a big list of sales to report. “However, to judge the market value of a certain ship is becoming increasingly difficult. As evidenced in the sales list, price levels seem like a ‘free for all’ with no actual pattern emerging, clearly highlighting that each vessels value is an individual case by case scenario. On paper, some units seem similar, yet for some reason, a price differential of anything upto USD 10/ldt can be witnessed.
On the buying front, the Chinese and Indian breakers are taking the plaudits this week.
China has been very busy as they looked to acquire tonnage prior to their New Year festivities and were bidding some aggressive numbers in an effort to claw tonnage away from the Indian sub-Continent. Time will now tell whether this recent positive momentum will continue when the market reopens again after their holidays.
India too emerged this week with increasing price levels. Whether these sudden improvements were from cash buyers over-speculating or actually justified on the back of the breakers indications remains to be seen, but some Owners would have definitely benefited from the sudden enthusiasm emanating from this market.
The good news is Bangladesh is definitely open and for an indefinite period too. Some Buyers are now willing to buy tonnage giving delivery February onwards as they believe the income tax situation would be resolved within this month. There remains however the problem of which breakers can actually open Letters of Credit internally. For Owners to consider Bangladesh as an option, a certain degree of caution must still be adopted. Last thing any Owner would wish for is to arrive at anchorage and delivery is unable to take place due to delayed payments. Some cash buyers are optimistic that no such issues will occur, however this is definitely the time for an Owner to tread carefully and wisely when considering selling their units to this area. Price levels on offer appear to be not as competitive as India. However, Bangladesh may soon offer a viable alternative to China for those vessels completing in the Far East. We need to see several vessels arrive, clear inward formalities and beach without delay to know 100 percent for sure that the market is officially ‘open for business’ concluded Clarkson Hellas
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
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